The challenge we were set
Our client, a full-service restaurant chain, owns well over 400 individual restaurants across North America. Each of these restaurants needs to engage with suppliers for everything from food to lawn care services.
The company had an unruly contract process laden with unnecessary, burdensome steps and high levels of risk. A lack of clear policies on contract review led to confusion regarding approval and the terms that those agreeing terms should tolerate.
The new Chief Legal Officer envisioned a seamless, process-driven solution that combined the right people, process and technology, and he set the challenge to develop, test and implement it in less than a year.
The BCLP Cubed solution
Our team worked closely with the in-house team to categorize contracts by risk and type. That informed the resource assignment, a playbook of terms and escalation paths for contracts warranting senior level attention. Elements of the process were automated with a custom built management software platform that centralizes contract intake, tracks status, monitors key provisions and deadlines and captures metrics. Among other features, the system automates approval requirements based upon triggers set for contract size, type and duration.
To further improve efficiency, the team developed the system to enable greater ‘self-service’ by business users, including pre-approved term sheets and NDAs generated via simple questions. This not only meant substantial upgrades, but also involved an imaginative approach to gaining buy-in from across the company, including a creative and highly effective internal communication campaign.
The results we delivered
Where inconsistency had created delays and confusion, leveraging the right people, processes and technology now provides assurance for our client.
The business units particularly liked the clarity provided by the new system, which provides accountability and risk mitigation as well as greater certainty regarding the value of what they buy. The redesigned processes also generated outstanding levels of service. Now, over 95% of contracts are executed on time, including 100% of high impact contracts follow the approval process.